Pakistan-Philippines trade ties need to be strengthened

ISLAMABAD: Cristina G. Ortega, Assistant Secretary Office of Asian and Pacific Affairs, said that trade between Pakistan and Philippines must be enhanced to further strengthen trade and economic relations.

“The two countries have long history of cordial relations, and through diversification of product range the bilateral trade can be enhanced”, she added.

Speaking in a meeting with President Islamabad Chamber of Commerce and Industries (ICCI) Mahfooz Elahi here on Tuesday, Cristina said that since 2004 the policy dialogue on trade was at halt, which has now been re-activated to give a boost to the trade activities.

“A Working Group at the government level has been formed to look at the possibilities of business in more products to enhance trade, which at present was far below the existing opportunities”, she remarked. She was of the view that with more people to people contacts and interaction between the private sectors, further avenues of cooperation can be found. In Philippines concept of Halal Food was growing and Pakistan must enhance its exports in it. 
 
The people of both countries should also share knowledge and expertise with each other and she offered cooperation of Philippines in the business of Call Centers. Mahfooz Elahi said that trade between Pakistan and Philippines was around US $ 100 million, which did not reflect the true potential between the two countries.

Elahi said that major items of exports from Pakistan include rice, pharmaceutical products, cotton yarn, cotton fabrics, glass and glassware, whereas major imports from Philippines comprised of auto parts, machinery and its parts, paper and paperboards. He said that though balance of trade is in favour of Pakistan but the two-way trade must be increased removing tariff and non-tariff barriers.     
   
The ICCI President said that Working Group should identify more areas for creating business ties. Vegetables, training of manpower, livestock, agriculture and marble can help entrepreneurs of both sides to join hands. He said that it was encouraging that dialogue process has been re-initiated and underlined the need of greater interaction between the private sectors to harness the existing potential.

Jesus I.Yabes, Ambassador of Philippines to Pakistan was also present at the occasion.

Feb 15^th, 2011

Source: 'Pakistan Times' Business & Commerce Desk